Protecting Your Assets While Caring for your Parents

Last week’s post talked about the laws of some states, called “filial responsibility laws,” that hold children legally responsible for the cost of their parents’ long term care.

Even in the absence of such laws, many adults, especially those with financial means, take responsibility for the cost of their parents’ care.  Arizona Attorney Ike Devji, whose practice focuses on asset protection, provides some instruction for those adults in this article:  

http://www.proassetprotection.com/2011/12/why-failing-to-plan-for-extended-family%e2%80%99s-finances-creates-liability-for-you/

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